Samsung makes global strides

[New York] Samsung was cited by Interbrand Co. for the second consecutive year as the fastest-growing global brand. Interbrand's Best Global Brands list ranks Samsung Electronics No. 25 with a 31% jump in brand value since 2002, when Samsung was No. 34. "This is an indication that we are performing," said Eric Kim, exec VP-global brand marketing, Samsung Electronics. "It's proof of our very comprehensive, consistent and committed efforts behind our worldwide branding strategy," he said, adding, "we still have a very long way to go," particularly in North America where Samsung must compete with entrenched brands like Sony Electronics. He said Samsung's global marketing spending grew 15% annually for the past three years-and more in North America-to "well over $400 million" this year. Interbrand's other fastest-growing global brands, judged on innovation, consistency and quality, include Hewlett-Packard Co., SAP, Dell and L'Oreal.